Stonyfield Sold to Lactalis
Danone has entered a binding agreement with Lactalis to sell its U.S. dairy subsidiary, Stonyfield, for $875 million, 20 times its EBITDA in 2016. Stonyfield generated about $370 million in turnover in 2016.
The sale is part of the agreement reached in March with the U.S. Department of Justice in connection with Danone’s acquisition of WhiteWave. The transaction is expected to close in the third quarter of this year.